Core Viewpoint - The company aims to transform the 2873 counties in China into its "real universe" by focusing on the county-level market, addressing the unique needs of consumers in these areas, and ensuring that price does not become a barrier to sports participation [2][12]. Group 1: Market Insights - The county population accounts for over 65% of the national total, yet per capita sports equipment consumption is only 1/56 of that in first-tier cities [2][12]. - Consumers in county areas face a "three no" dilemma: lack of suitable products, absence of scientific guidance, and insufficient service networks, with store coverage below 20% [2][12]. Group 2: Strategic Principles - The company has established three principles: never abandon the county market, never produce pseudo-professional products, and never let price become a barrier to sports [2][8]. - The strategic focus is on balancing professional technology with affordability, ensuring that consumers do not have to pay extra for additional features [5][9]. Group 3: Product Development - The company is developing "county-specific" cushioning technology to cater to the higher daily walking volume in rural areas, adapting to various terrains like gravel and dirt roads [9]. - For community activities like square dancing and running groups, the company is enhancing anti-twist designs to reduce injury risks [9]. Group 4: Brand Evolution - The company has rebranded from Guirenniao to Jinhong Agricultural Co., Ltd., but it remains committed to the sportswear market, emphasizing a new beginning [5][6]. - The brand declaration focuses on safeguarding the health and safety of 1.4 billion people through a dual-spiral ecosystem of sports protection and health services [5][8]. Group 5: Industry Context - The national goal is to have 500 million people regularly participating in sports and to achieve a sports industry output value of 5 trillion yuan by 2025 [11]. - There is a growing concern about the rising injury rates in public sports, with knee injuries accounting for over 60% of cases, highlighting the need for safer sports practices [12].